Capital One Restructures Management

McLean-based Capital One Financial is reshuffling the management of its banking unit, The Wall Street Journal reports. The firm’s president, Lynn Carter, who will step down from her role at the end of 2011, will be replaced by Michael Slocum and Jonathan Witter, the heads of commercial and retail banking, in September.

The duo will work under Capital One Financial CEO, Richard Fairbank. Slocum joined the bank in 2007 from Wachovia Bank, while Witter, a former Morgan Stanley and Wachovia executive, was hired in 2010, adds Business Journal.

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